Amy Simon Sells 502 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAM) insider Amy Simon sold 502 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.76, for a total transaction of $11,927.52. Following the completion of the transaction, the insider now directly owns 69,553 shares of the company’s stock, valued at approximately $1,652,579.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $23.48 on Friday. Beam Therapeutics Inc. has a 1 year low of $16.95 and a 1 year high of $49.50. The business’s 50-day moving average is $23.66 and its 200 day moving average is $27.73.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.21. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. The business had revenue of $7.40 million during the quarter, compared to analysts’ expectations of $17.09 million. During the same quarter last year, the business posted ($1.33) EPS. The business’s revenue was down 69.4% on a year-over-year basis. As a group, research analysts predict that Beam Therapeutics Inc. will post -4.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on BEAM. Barclays reduced their price objective on Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. BMO Capital Markets reissued an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, May 7th. Finally, TheStreet upgraded shares of Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.18.

Institutional Trading of Beam Therapeutics

Several large investors have recently added to or reduced their stakes in BEAM. Rhumbline Advisers lifted its position in shares of Beam Therapeutics by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 105,496 shares of the company’s stock worth $2,537,000 after purchasing an additional 10,412 shares during the period. Trexquant Investment LP bought a new stake in Beam Therapeutics during the 3rd quarter valued at approximately $360,000. Teza Capital Management LLC purchased a new position in shares of Beam Therapeutics during the 3rd quarter worth approximately $226,000. Schonfeld Strategic Advisors LLC raised its position in shares of Beam Therapeutics by 2.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 77,072 shares of the company’s stock worth $1,854,000 after acquiring an additional 2,168 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Beam Therapeutics in the 3rd quarter worth approximately $234,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.